Mony outsources annuity and life admin to Bisys

Mony outsources annuity and life admin to Bisys

Mony Life Insurance Company of America has selected Bisys to provide accounting services for its variable annuity and universal life products.

Under the multi-year agreement, Bisys will provide the insurer with unit value calculations, funds trading, general ledger reporting, and performance reporting services.

Stephen McIntyre, assistant vice president of Mony, says the agreement will enable the company "to focus on our products and our clients rather than on the time-consuming and complex daily accounting functions".

Bisys was recently chosen to support Enterprise Capital Management, a member company of The Mony Group, full-service 401(k) plans with record keeping and administrative services.

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